South Africa invested $US5 billion in hosting the World Cup - the first to be held in Africa.

The South African Sports Confederation and Olympic Committee says a bid for the Olympics is regarded as a way of maintaining South Africa's new international profile and of maximising the investment in the World Cup.

President Jacob Zuma has already declared that South Africa would like to bid for an Olympics.

The deadline for submission of applications to the International Olympic Committee is in 2013.

IOC president Jacques Rogge said he would be glad if a South African city made a host bid.

Cape Town applied in 1997 to host the Olympic Games in 2004, but was not successful.